Bad experience Ohio Turnkey

[Andrew Schneider]

I was to purchase a property in Middletown Ohio. Purchase price was 117,900. Property appraised for 88,000. The owner Matt was quite hostile and cursed. He stated property will appraise and is sold again just a few days after I cancelled contract. The detached garage needed major work per appraisal.

I was never informed of the maintenance that needed to be done. I had asked to speak with tenants and former owner and was not allowed to. I found they bought property for 62000 a few weeks ago.

All in all a bad experience with a provider who was flippant and uncaring

[James Wise]

Originally posted by @Andrew Schneider:

I was to purchase a property in Middletown Ohio. Purchase price was 117,900. Property appraised for 88,000. The owner Matt was quite hostile and cursed. He stated property will appraise and is sold again just a few days after I cancelled contract. The detached garage needed major work per appraisal.

I was never informed of the maintenance that needed to be done. I had asked to speak with tenants and former owner and was not allowed to. I found they bought property for 62000 a few weeks ago.

All in all a bad experience with a provider who was flippant and uncaring

 Being objective it's important to note that the seller not letting you speak to the former owner or the tenants isn't a red flag. Nobody is going to let you do that. The moral of the story here is that investors going into unfamiliar markets should always get an appraisal. You did and it saved you from what looks to be a $30,000 over payment. Great job out of you doing your due diligence and protecting your capital.